A Columbus, Ohio restaurant owner, Gihan Ahmed Ismail Zalat, was sentenced to four years in prison for her role in a mortgage flipping scheme. Zalat pleaded guilty to three counts of engaging in a pattern of corrupt activity and five counts of money laundering. Zalat was indicted in February 2008 for a mortgage fraud scheme involving several Ohio properties. Zalat is a former co-owner of the Happy Greek restaurant, South Campus Gateway, Ohio. The scheme took place between 2005 and 2007 and involved false documentation and misrepresentations in loan applications, property flips, using inflated appraisals and unauthorized kickbacks disguised as construction monies for home improvement.
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